The Chicago Entrepreneur

: Reddit founder wants to charge Big Tech for scraped data used to train AIs: report

Online community network Reddit wants to start getting paid by large artificial-intelligence companies that scrape data off its message boards to help train AI products. In an interview with the New York Times, Reddit founder and Chief Executive Steve Huffman said that the “Reddit corpus of data is really valuable. But we don’t need to give all of that value to some of the largest companies in the world for free.” Generative AI has gone mainstream this past year with the release of OpenAI’s ChatGPT — backed by a multibillion-dollar investment from Microsoft Corp. MSFT. AI uses massive amounts of data drawn from a site’s application program interface, or API, to train the AI product and train for inference. Alphabet Inc.’s GOOGGOOGL Google also has a generative-AI product, Bard, and Adobe Inc. ADBE recently released an AI product named Firefly, a “co-pilot” technology aimed at helping create content. Meta Platforms Inc. META has its own eponymous product, Meta AI, while Amazon.com Inc.’s AMZN AWS has released free machine-learning tools for users.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Previous post : Yellen to give speech on U.S. economic policy toward China
Next post : BlackRock starts selling $100 billion pile of FDIC assets seized by Silicon Valley Bank, Signature Bank